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WorksheetsPRODUCT
Total questions: 20
Worksheet time: 27mins
Name
Class
Date
1.
Why does a company need to know the life-cycle stages of its products?
a)
To prevent imitators from entering the market
b)
To find new uses for the product
c)
To predict the length of the life cycle
d)
To adapt its marketing strategies
2.
Why might profits sometimes decline for the company that first introduced the product during the growth stage of a product’s life cycle?
a)
Because sales decline in the growth stage
b)
Because marketing strategies are adjusted
c)
Because competitors have entered the market
d)
Because production is more efficient
3.
Which of the following is a true statement about the introduction stage of the product life cycle:
a)
Profits are usually nonexistent.
b)
Costs are low.
c)
c. Sales growth is exploding.
d)
There is intense competition
4.
Which of the following is a true statement about the growth stage of the product life cycle:
a)
Costs go up.
b)
Competitors arrive on the scene.
c)
It’s the longest-lasting stage of the product life cycle.
d)
Sales increase very slowly.
5.
Which of the following is a true statement about the maturity stage of the product life cycle:
a)
Sales growth slows down.
b)
Profits increase.
c)
c. Competition becomes less intense.
d)
It is the easiest stage for marketers.
6.
Most of the products we use are in which stage of the product life cycle?
a)
Introduction
b)
Growth
c)
Maturity
d)
Decline
7.
Which of the following stages of the product life cycle is the most difficult one for marketers:
a)
Introduction
b)
Growth
c)
Maturity
d)
Decline
8.
Which phase of the Product life cycle is a downward turn in sales leading to the demise of a product.
a)
Introduction
b)
Growth
c)
Maturity
d)
Decline
9.
Why might profits sometimes decline for the company that first introducted the product during the growth stage ofa product's life cycle?
a)
Because sales decline in the growth stage
b)
Because marketing strategies are adjusted
c)
Because competitors have entered the market
d)
Because production is more efficient
10.
Which of the following is a way that a business can extend the life cycle of an established product?
a)
promoting the product to current users
b)
finding new uses for the product
c)
restricting distribution
d)
attracting customers who are innovators
11.
Five years after a new product has been introduced, sales begin to level off because customers are purchasingthe competitor's brand. What strategy would be most appropriate to use in this situation?
a)
take the product off the market
b)
do nothing, fluctuations in sales are common
c)
modify or update the product to renew customer interest
d)
triple the advertising budget for the product
12.
Which of the Boston Consulting Group Model (BCG Model) categories are being described here: A fast growing market leader.
a)
Star
b)
Cash Cow
c)
Problem Child/Question Mark
d)
Dog
13.
Which of the Boston Consulting Group Model (BCG Model) categories are being described here: a business unit that generates more cash than it needs to maintain its market share.
a)
Star
b)
Cash Cow
c)
Problem Child/Question Mark
d)
Dog
14.
Which of the Boston Consulting Group Model (BCG Model) categories are being described here: a business unit that shows rapid growth but poor profit margins.
a)
Star
b)
Cash Cow
c)
Problem Child/Question Mark
d)
Dog
15.
Which of the Boston Consulting Group Model (BCG Model) categories are being described here: a business unit that has low growth potential and a small market share.
a)
Star
b)
Cash Cow
c)
Problem Child/Question Mark
d)
Dog
16.
The process of anticipating future events and determining strategies to achieve organizational objectives in the future.
a)
Planning
b)
Marketing Planning
c)
Marketing Plan
d)
Mission Statement
17.
To be successful, a company should have a portfolio of products with different _________ and different _________.
a)
agreements; growth rates
b)
growth rates; market shares
c)
market shares; costing rates
d)
capacity planning; costing rates
18.
In the maturity stage, rivals starting to aggressively enter the market with viable products. If you can fill the demand, they will-- and you may never get those customers back.
a)
True
b)
False
19.
How much you spend on the R&D determines success.
a)
True
b)
False
20.
Traditional market research engages customers to find out what they are thinking. Which of the following is an example of classic market research?
a)
Direct customer observation
b)
Social networking
c)
Focus groups
d)
Shadowing
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